Economic Systems and Market Structures Practice Test

Front

What type of economic system allows the government to decide what to produce, how to produce and for whom to produce? Options: Market, Mixed, Command, Traditional

Back

Command

Front

What type of economic system is based on customs and beliefs? Options: Market, Mixed, Traditional, command

Back

Traditional

Front

Democracies like the United States, United Kingdom, and Germany have what type of economic systems?

Back

Mixed

Front

A system that uses bartering or trading.

Back

Traditional

Front

What type of economic system allows government and private businesses to make economic decisions?

Back

Mixed

Front

When a country has a market economy, which of these statements correctly defines this system? Options: workers are guaranteed a pay raise every year, the gov't controls most of the business in the country, all basic goods are provided without charge, companies produce goods of their choice and consumers decide whether to buy them

Back

companies produce goods of their choice and consumers decide whether to buy them

Front

The four types of economic systems are: Traditional, Command, Mixed, & Market

Back

Traditional, Command, Mixed, & Market

Front

In the economy of the Bushmen of the Kalahari Desert the people follow the examples of their ancestors. This is what kind of economy?

Back

Traditional

Front

What type of economy does North Korea have, where a dictator makes all economic decisions? Options: Traditional, Market, Command, Centrally Planned

Back

Command

Front

A free enterprise system is one in which-

Back

Private citizens own and operate most of the businesses and industries